2010 World Cup insured for Cdn$9.5 billion

The 2010 football World Cup will be insured for an estimated £6.2 billion (Cdn$9.5 billion) when it kicks off in less than a week.
About half of that sum is related to stadiums built or refurbished for the tournament being held in South Africa.
“The stadiums have…been the subject of much scrutiny, with major renovations having been carried out on five existing ones, and five new ones being built around South Africa to accommodate the 2.75-million ticket holders,” Lloyd’s says in a press release. “Brian Oxley, insurance manager for the organizing committee at FIFA, says the combined value for these stadiums and training venues amounts to £3.2 billion [Cdn$4.9 billion].”
Another major expense is insurance for the players.
“A player at the height of [his or her] career and playing in one of the top leagues for their country could be insured for £50 million [Cdn$76.7 million], according to Peter Thompson, underwriter at Beazley,” according to a Lloyd’s release. “Assuming there are no pre-existing conditions, £40 million of this insures their entire body for sports disability, including accidental death and permanent total disablement, 24 hours a day.”
Included in the insurance coverage is potential damage to a player’s – and his or her team’s – reputation. Dan Trueman, underwriter at Kiln, estimates a footballer’s brand to be worth around £10 million [Cdn$15.3 million], Lloyd’s reports.